BEIJING – China's new premier says his government is committed to strong relations with the U.S. and sees a strong outlook for trade and investment between the sides.

Li Keqiang told reporters at a Sunday news conference that despite their differences, conflict between the world's first and second largest economies is not inevitable. China's new leaders "attach great importance" to relations with the U.S. and will work with Barack Obama's administration to move ties into a new stage, Li said.

Two-way trade hit almost $500 billion last, although disputes linger over Chinese trade practices, opposition to Chinese investment in the U.S. and complaints over alleged Chinese computer hacking.

Li was speaking in his first news conference since being appointed premier last week with primary responsibility for running the Chinese economy.